Marc Lore's Startup Jet Offers Equity To a Few People Who Bring in the Most Referrals

Jet, the New Jersey ecommerce startup founded by Marc Lore, who sold his previous startup Quidsi (Diapers.com, etc.) to Amazon, offers special benefits on its website to early signups to its Jet Insider program: free membership, early access, and maybe even Jet stock.

By signing up for Jet Insider, you get a free six-month membership. Increasing awards come with the number of referrals you bring to Jet, but if I understand correctly you would have to be among the top 10 in referrals to earn 10,000 shares while the number one referrer earns 100,000 shares.

Of course, no one knows what those share may ultimately be worth, though Jet has raised at least $80 million to date. Jet plans to use advanced ecommerce technology to compete on price on selected items with Amazon.

Lore is a Wharton grad and Penn-related MentorTech Ventures is an investor in Jet along with other much larger funds. MentorTech was also an investor in Quidsi. Jet is based in Montclair.

[Reposted with the permission of Philly Tech News. The original article was posted Tuesday Nov. 25, 2014 and can be found here.]